My Unfair Advantage

Human

            Human resources are valuable to my venture because they will provide the quality of website I have imagined unmatched to any other competitor. These resources will also help provide an effective sales team to help unite all colleges and their respective neighborhoods in order to promote the website and can’t be substituted by any other resource. Unfortunately, the resource isn’t rare and can be imitated.

Financial

            Financial resources will be important to my business venture. It will help me guarantee my personnel and their production of my business plan every step of the way. This resource is rare since most entrepreneurs start with nothing, but it can be imitated and substituted by other means.

Physical

            Physical resources are important but not to the same extent other companies have needed these. I plan to have an office for my personnel and provide support for their work in order to continue with the business venture. There is no retail or delivery services needed to occupy more physical resources. This resource isn’t rare as other companies have the same setup, therefore it’s easy to imitate and also can be substituted.

Intellectual

            Intellectual resources are valuable in the development of this business venture. As a company that wants to serve the customer better every time, we will strive to better our software systems through proprietary knowledge to increase customer satisfaction and databases, through copyrights and partnerships we will distance ourselves from any other competitor. I believe this resource is rare since other companies strive to stay afloat and make ends meet. I, on the other hand, will use this resource to help bring a better experience to the customers and therefore, they keep using my business. This resource is hard to imitate since we will be constantly bettering the product to satisfy the consumer and can’t be substituted.

Social

            Social resources will play a huge role from the beginning of this business venture. Through social resources and networking, I will have the inside information and the expertise needed to capture my targeted audience and kick start the process, diminishing trial and error through the obtained information. This resource can be rare and inimitable depending on who you network with, but it can be substituted by intellectual resources.

Emotional

            Emotional resources are crucial for any entrepreneur in my opinion. The beginning of a business venture can bring about many stressful situations and hard decisions. Having close friends, family, or personnel that is trustworthy can help ease some of these troubling times. This resource is rare and will help keep me steady from making the wrong decision for the company. It’s also unique in that it can’t be imitated since the relationships built here are all unique. It also can’t be substituted since other resources don’t provide this type of close support.

Marketing

            Marketing resources are like the foundation of a house. They are needed to stay steady and not sink under. My networking has allowed me to meet someone willing to help build this foundation and learn from these experiences to better suit my market. Unfortunately, this resource isn’t rare since a lot of companies make this their main mission. Therefore, it can be imitated but substituted by any other resource.

Customer

            Customer relation resources will assist in building the satisfaction I’ve imagined with this business venture therefore they are extremely valuable. Listening, developing, and learning how my customers think and react will help this venture build a better formula to satisfy their needs. I believe this customer relation resource is rare because the majority of my business venture relies on their satisfaction, making this a top priority resource unlike other businesses. It can be imitated since there are other companies that might have the same goals to satisfy the consumer first and foremost; but it can’t be substituted by any other resource.

Legal

            Legal resources obviously help in keeping the business from stepping out of bounds throughout. Having a strong and knowledgeable legal staff is valuable and will ease the business development, knowing every step we take is being done right. This is the least rare of the resources; I believe every company will have a legal team behind them. It most definitely can be imitated but not substituted.

Research and Development

            Research and Development resources are valuable to help bring the business up to date. With a strong research and development team, we can bring new features and obtain a bigger audience with every update made to the website. These personnel can also help discover the next big step my business venture will take. It’s unlikely that this resource is rare, every business venture will have a R and D team; no one would want to stay where they’re at, they need to push for the next big thing. It can be imitated by other companies but it’s not substituted easily by other resources.

I believe that intellectual resources will be my strongest advantage. Every business will have their own but it won’t ever be the same since it includes software development and other objectives created by the goals of the entrepreneur and his personnel. It’s important to my business venture because it provides a major role in keeping the business focused on specific software updates related to our customer databases and feedbacks, therefore maintaining a high level of customer satisfaction.